Nick Holland is a well-known and respected thought leader in Fintech. He has spent more than thirteen years focusing on the intersection of mobile, retail payments and security, working at many of the most renowned research houses in the industry. His prior roles include Head of Payments and Mobile at Javelin Strategy, where he conducted in-depth research on EMV, mobile proximity payments, digital wallets, tokenization and biometrics and provided consulting to financial institutions, mobile operators, processors, card networks and vendors; and mobile payments research at Yankee Group and Aite Group.
It's not just Equifax that needs to worry. The incident can and should be a turning point for the financial services industry, a warning that it needs to end its reliance on static personal identifiers.
The simple act of moving money can have a big impact on any political movement, so banks and payment networks are often caught up in issues of national importance. Here are some recent instances where payments and politics came head-to-head.
Many of Zelle's member banks and credit unions chose to migrate clearXchange users to the relaunched service. It's a potential convenience, but if executed without end-user awareness or consent it can irritate consumers.